Drilling Intersects 4.1 metres of 7.09 g/t gold on New Dimension's Domain Gold Project
VANCOUVER, June 12, 2017 /CNW/ - New Dimension Resources Ltd. (TSXV: NDR) (the "Company" or "New Dimension") announces that it has received assay results from the recent drill program conducted by Yamana Gold Inc., their joint venture partner (operator) on the Domain gold project. The Domain gold project is located in northeastern Manitoba, approximately 210 kilometres southeast of Thompson and hosts multiple shear hosted lode gold occurrences in spatial proximity to banded iron terrains, and is considered very geologically attractive for discovery.
The 2017 winter diamond drill program consisted of four diamond drill holes totaling 1,386 metres ("m") of NQ sized core. The program had two main objectives:
- Main Zone test: test the down dip and along strike potential of the high-grade gold "main zone" of mineralization as defined by historical drilling; and
- Step-out test: test regional Horizontal-Loop Electromagnetic (HLEM) conductors for gold bearing potential within the claims.
Drilling Highlights:
Main Zone test:
The first two holes of the program, YG-17-41 and YG-17-42 focused on the down-dip and northwest strike extension of historical high-grade mineralization respectively.
YG-17-41 successfully intersected both HLEM conductors. The hole also identified a fault structure, which corresponds to the second HLEM conductor and can be correlated to previous surrounding drill intercepts. Strong mineralization was intersected ~200 m down-dip of historical drill hole RR-08-28 and returned gold assays including:
- 4.52 g/t gold ("Au") over 7 m, including
- 20.90 g/t Au over 1.0 m,
- 14.33 g/t Au over 1.8 m, and
- 7.09 g/t Au over 4.1 m.
The higher-grade mineralization in YG-17-41 is hosted in the same magnetite-rich mudstone or Iron Formations, as identified in historical drill holes, demonstrating a down dip extension of the Main Zone. Results in section that include historical drilling, report 7.29 g/t Au over 9.0 m and 4.30 g/t Au over 4.5 m.
YG-17-42 intersected mineralization ~100 m northwest of historical drill hole RR-08-32. Highlights of assays include:
- 2.79 g/t Au over 1.89 m, including
- 3.78 g/t Au over 1.27 m.
YG-17-42 is the furthest hole northwest demonstrating a potential strike extension of the Main Zone.
Step-out test:
Similar to the main mineralized zone, anomalous gold values in YG-17-43 and YG-17-44 are associated with magnetite-rich mudstones with late structural features such as faults and shear zones, elevated sulphide mineralization and silica flooding in areas with large, pervasive biotite alteration halos.
These two "step out" holes tested HLEM anomalies over 400 metres to the west of the Main Zone further indicating that drill testing these targets produces a high success rate. Throughout the property multiple targets of similar or greater magnitude have been identified that remain untested.
A complete table of results from the 2017 winter program:
| Hole |
Section |
From (m) |
To (m) |
Drill Interval (m) |
Au (g/t) uncut |
| YG-17-41 |
2075SE |
17.5 |
18.5 |
1 |
0.507 |
| YG-17-41 |
2075SE |
20.5 |
21.5 |
1 |
0.408 |
| YG-17-41 |
2075SE |
26.5 |
27.5 |
1 |
0.41 |
| YG-17-41 |
2075SE |
112 |
113 |
1 |
1.57 |
| YG-17-41 |
2075SE |
149 |
150 |
1 |
0.4 |
| YG-17-41 |
2075SE |
339 |
340 |
1 |
1.26 |
| YG-17-41 |
2075SE |
346 |
353 |
7 |
4.52 |
| including |
346 |
347 |
1 |
2.4 |
|
| including |
348.9 |
353 |
4.1 |
7.09 |
|
| including |
348.9 |
350.7 |
1.8 |
14.33 |
|
| including |
349.7 |
350.7 |
1 |
20.9 |
|
| YG-17-41 |
2075SE |
375 |
376 |
1 |
1.85 |
| YG-17-42 |
1850SE |
131.68 |
133.57 |
1.89 |
2.785 |
| including |
132.3 |
133.57 |
1.27 |
3.778 |
|
| YG-17-42 |
1850SE |
150 |
151 |
1 |
0.776 |
| YG-17-42 |
1850SE |
211.42 |
212.22 |
0.8 |
0.432 |
| YG-17-43 |
1400SE |
81.06 |
83.06 |
2 |
2.58 |
| including |
81.06 |
82.06 |
1 |
3.6 |
|
| YG-17-43 |
1400SE |
182 |
183 |
1 |
0.741 |
| YG-17-43 |
1400SE |
215 |
215.73 |
0.73 |
1.71 |
| YG-17-44 |
1400SE |
132 |
133 |
1 |
0.686 |
New Dimension has elected not to participate in funding its portion of the program on the claims and as a result the Company now has a 29.56% interest in the Domain Joint Venture (approximately 5.3% dilution). Should the Company's interest in the joint venture fall below a 10% threshold, its interest will be converted to a 1% net smelter return.
Quality Assurance and Quality Control (QA/QC)
A Quality Assurance and Quality Control (QA/QC) program was conducted following the operator's QA/QC protocols. Quality assurance standards, duplicates, and sterile blanks are routinely inserted into the sample stream as a control for assay accuracy, bias, precision and contamination. The results of these checks are tracked and failures are re-analyzed. This information also includes pulp checks carried out in the secondary lab.
About New Dimension Resources Ltd.:
New Dimension is engaged in the acquisition, exploration and development of quality mineral resource properties throughout the Americas with a focus on potential gold and silver deposits. The Company is currently focused on mineral projects in Canada with a priority directed toward the Savant Lake gold property.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Fred Hewett the Company's President & CEO, a director and a Qualified Person under NI 43-101.
ON BEHALF OF THE BOARD
NEW DIMENSION RESOURCES LTD.
"Fred G. Hewett"
___________________________
Fred G. Hewett, P.Eng.
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release may contain forward looking statements which are not historical facts, such as statements of belief of similarity of geological characteristics or features, statements of unverified drilling and sampling results and expectations of receipt of permits and plans for future work. Forward looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, unexpected geological factors, exploration results, results of verification work and unanticipated regulatory obstacles. See New Dimension's filings for a more detailed discussion of factors that may impact expected results.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE New Dimension Resources Ltd.
Nancy Curry at (604-220-2971) or Fred Hewett/Wayne Johnstone at (604-563-4807); ** INTERNET ADDRESS: www.newdimensionresources.com ** Email: [email protected]
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